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Lupaka Gold Announces Non-brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - February 11, 2016) - Lupaka Gold Corp (TSXV:...
About this update from Lupaka Gold Corp.
[{"type":"text","content":"Lupaka Gold Announces Non-brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - February 11, 2016) - Lupaka Gold Corp (TSXV: LPK) (FSE: LQP) (\"Lupaka Gold\" or the \"Company\") announces that it intends to complete a non-brokered private placement (the \"Placement\") to raise gross proceeds of up to $300,000.The Company plans to issue up to 6,000,000 units (the \"Unit\") priced at $0.05 per Unit. Each Unit consists of one common share and one transferable common share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder to purchase one additional common share, exercisable at $0.10 for a period of thirty six months from closing. The Warrants are subject to an acceleration clause in the event the closing price of Lupaka Gold's common shares is greater than $0.30 for a period of 20 consecutive trading days at any time following the date that is four months after the date of issue, Lupaka Gold may accelerate the expiry date of the warrants by giving notice to the holders thereof through the issuance of a press release. In such case the Warrants will expire on the 30th day after the date on which such notice is given. Insiders of the Company will be participating in the Placement. Finder's fee or commission may be paid in respect of the Placement. Proceeds from the Placement will be used for general working capital purposes in Canada and to further the Company's Invicta Gold Project. Final closing is expected to occur before the end of February, 2016, subject to receipt of final applicable regulatory approvals including approval of the TSX Venture Exchange. The shares and Warrants issued in the Placement are subject to a four-month hold period.Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news releaseThis news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The Securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless an exemption from such registration is available.About Lupaka GoldLupaka Gold is a Peru-focused gold e...